Deepwater Asset Management LLC Buys 8,882 Shares of Axon Enterprise, Inc $AXON

Deepwater Asset Management LLC lifted its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 98.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,933 shares of the biotechnology company’s stock after acquiring an additional 8,882 shares during the quarter. Axon Enterprise comprises approximately 4.6% of Deepwater Asset Management LLC’s portfolio, making the stock its 3rd largest position. Deepwater Asset Management LLC’s holdings in Axon Enterprise were worth $10,053,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Creative Financial Designs Inc. ADV acquired a new position in Axon Enterprise during the 4th quarter worth approximately $28,000. Camelot Portfolios LLC acquired a new stake in Axon Enterprise in the fourth quarter valued at approximately $30,000. AlphaCentric Advisors LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $34,000. Darwin Wealth Management LLC purchased a new stake in shares of Axon Enterprise during the second quarter valued at approximately $37,000. Finally, Strive Financial Group LLC acquired a new position in shares of Axon Enterprise during the fourth quarter worth $41,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Up 2.6%

AXON stock opened at $619.85 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $794.29. The firm’s 50-day simple moving average is $532.07 and its 200 day simple moving average is $473.93. The stock has a market cap of $50.36 billion, a PE ratio of 257.20, a price-to-earnings-growth ratio of 9.95 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 2.04 EPS for the current year.

Insider Transactions at Axon Enterprise

In other news, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at $16,501,640. This represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,989 shares of company stock valued at $36,016,932 over the last three months. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AXON has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. UBS Group increased their price target on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $715.00 price objective on shares of Axon Enterprise in a research note on Thursday, August 6th. Morgan Stanley lifted their price objective on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.